"First Bit" automated financial management "Auto-Trans-Siberia"

2023: Automation of Financial Management

Integrator of IT solutions "First Bit" automated financial management for the supplier of wind energy services "ATS" using the program "BIT.FINANS." This made it possible to abandon manual data processing: it now takes 1.5 times less working time to reflect the plan-fact. This "First Bit" reported on October 19, 2023.

Previously, ATS employees spent a lot of time working with finances. Applications for payment were transferred through the document management system, but there was no control of limits. The fact plan for BDDS and BDD was collected, processed and checked in Excel against the data received from the accounting department.

Specialists of the Voronezh office of the First Bit proposed ATS to implement "BIT.FINANCE/Management Accounting." The program perfectly complemented the capabilities of the 1C:ERP already used in the company. In BIT.FINANS, the customer created a directory of turnover items with the detail necessary for the analysis of BDDS and BDR, set up a translation mechanism, brought into line accounting entries and management movements to reflect in the required context.

Now the employees of the responsible departments themselves form budgets and can display information in the reports in the required sections. The specialists of the planning department enter the MDD data into the program through the budget entry form in the context of controlled analysts. The translation mechanism allows you to conveniently form fact.

The consolidated BDR is set up in the context of the areas of activity and displays the estimated profit indicators and all the necessary reference information. The additional dimension Transaction Type allows you to exclude intra-group sales transactions from the MDR.

Now accountants do not need to independently monitor spending limits when forming applications for payment. They are automatically linked to a specific item and object, and then the program itself reports whether the payment is out of budget or not. Labor costs in this area were reduced by 2 times.

Work with contracts has also been significantly simplified. Each type of contract has its own approval route configured - now it takes place immediately in electronic form. A convenient report with the possibility of selection for objects, counterparties and contracts helps to control the implementation of already concluded contracts.

As a result of the project, the company has a modern financial management system. Data collection and analysis is automated, additional analysts and sections have appeared, and the accuracy of accounting has increased. The labor costs of accounting, financial and planning departments decreased, operating costs decreased by 5%. The implementation took place promptly: in December 2022, the budget plan was loaded into the system, and since January 2023, the fact of MDR was already being collected. At the end of the first quarter, the formation of applications for payment began.